Mexico's economy slows less than expected in third quarter

MEXICO, Oct 30 (Reuters) - ‌Mexico's economy ​slowed ​in the third quarter from the previous three-month period, a ‌preliminary estimate from national statistics agency INEGI ⁠showed on Friday, beating analysts' expectations.

Gross domestic product ‌in Latin America's second-largest ‌economy grew 0.9% in the three months through September, down from 1.4% growth ​in April-June. Economists in a Reuters poll expected a 0.7% increase in ⁠the third quarter.

"The slowdown mainly reflects a return to normal ​levels of activity following an exceptionally strong quarter, rather than a general ​deterioration in the economy," ‌said Andres Abadia, chief economist for Latin America at Pantheon Macroeconomics.

The ⁠economy was mainly fueled by a 1.1% expansion in so-called tertiary activities, which cover ⁠services, and a 0.8% increase in the secondary sector, ​which includes manufacturing and construction.

Meanwhile, primary activities - which include farming, fishing and mining - declined 0.4% from ‌the prior three-month period.

Compared with the third quarter a year earlier, ‌the Mexican economy grew 3.2%. That ⁠is above a 2.5% ‌year-on-year increase ​expected by economists.

(Reporting by Aida Pelaez-Fernandez and Ricardo Figueroa; Editing by Anthony ‌Esposito)

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